The Bombay High Court on October 7 suggested that the parties involved in the dispute between Reliance Industries and Reliance Natural Resources complete their arguments before the court closes for the Diwali vacation, which starts from October 27.
During the arguments in the court, Justice J N Patel remarked that the court would like to spend the Diwali vacation writing out the order and would like the parties involved to finish their arguments before that.
"We are not hearing the matter because Reliance Industries is a big company. We are hearing it because it is in the nation's interest," remarked Justice Patel.
Ram Jethmalani, the senior counsel for Anil Ambani-controlled RNRL, said they would file the relevant parts of the Memorandum of Understanding in the court with an affidavit. "Tomorrow, we will produce the relevant parts of the MoU in the court. It will have all the terms, including the Gas Sale Master Agreement," said Jethmalani outside the court on October 7.
The division bench comprising Justices J N Patel and K K Tated on September 2 had said, "We would like to know what the MoU contains as far as the GSMA is concerned. We would not want to see the entire MoU."
RIL senior counsel Harish Salve, however, maintained that the MoU was not a pleaded document in the case. "If RNRL wanted a submission of the MoU in this case, they should have filed an application at the beginning. It does not stand for consideration now," Salve had said in the earlier hearing.
The case will come up for hearing on October 8.
Meanwhile, NTPC, which is involved in a separate legal battle with Reliance Industries for supply of gas from the KG basin, said on October 7 that it did not agree for an out-of-court settlement with the Mukesh Ambani-controlled RIL. The clarification was in response to an earlier report, which said both RIL and NTPC have informed the Bombay High Court that they are willing for an out-of-court settlement.
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